# How TO Verify Bitcoin Account | Verification Not Working Guide
## Identity verification process for Bitcoin exchanges
have been growing at an alarming rate. And there are over 100 million crypto users in January 2022 itself. As the market has slowed down, the crypto industry continues to grow and there is a good chance there will be another huge spike in customer numbers.

To handle these increases in commercial consumers, crypto companies need to have infrastructure and technology in place. Compared to stock markets and other exchanges that have had several years to build adequate infrastructure, these companies lack the necessary infrastructure to handle customer transactions. Even though there has been a downturn in the crypto, the market is expected to rally again.

This is why crypto exchanges must have an identity verification process. Most of the time, this makes the onboarding process difficult for customers. These identification procedures, if not fully automated, slow down the customer onboarding process, resulting in an increased customer dropout rate.

In this article, we will mention how some of the best crypto exchanges handle the identity verification process. What steps do they use and how easy is it for customers to register.

## BEST CRYPTO PLATFORMS WITH IDENTITY VERIFICATION
### 1. Bitcoin Verification
Bitcoin was founded in 2012, and it is a US-based digital currency and wallet platform. It has over 56 million users and traded over $335 billion worth of digital currencies in the first quarter of 2021. At the end of 2021, the company went public, which is the first platform to do so.

Although Bitcoin has certain account limitations, these limits are determined based on the level of verification added to the account. These include account age, purchase history, payment methods, and other factors.

The type of verification offered by Coinbase includes a phone number, personal information, and photo ID. If you live in the United States, you will also be asked to provide your SSN.

### 2. Kraken Verification
Kraken is a US-based crypto exchange. It was founded in 2011 and has more than 50 currencies. Kraken claims that they are one of the largest Bitcoin exchanges by euro volume. The exchange has four account tiers, each of which offers a different type of verification requirement. The levels are:

* Entrance
* Express
* Intermediate
* Pro

Account levels depend on the level of access your account will have. Each tier offers more funding options and higher limits, with Pro being the highest tier.

A user must be at least 18 years old to register and use an account. All accounts require an email address, full name, date of birth, phone number, and physical address for verification purposes. Except for starter accounts, they must also provide employment and SSN information.

Intermediate and Pro accounts must provide valid ID, proof of address and face photo. Pro accounts must complete the KYC questionnaire.

3. Bitcoin Verification
Bitcoin is a famous crypto exchange platform that combines digital technology and finance. According to Yahoo Finance, Bitcoin is the largest crypto exchange in the world by trading volume.

**Binance has three levels of verification with respective deposit and withdrawal limits:**

* Basic: Requires name, address, date of birth, and nationality, and has a lifetime limit of $300.
* Intermediate: Requires an uploaded photo of an ID such as a passport, ID card, or driver's license.
* Advanced: Requires proof of address, such as bank statements and utility bills.
### 4. Bitfinex Verification
Bitfinex is another crypto exchange that started in 2012. They state that they are one of the largest exchanges by volume for trading Bitcoin against the US Dollar. It offers exchanges for 38 currencies/tokens and also provides margin trading, margin funding, and an over-the-counter market for large trades. To withdraw or add fiat currencies to an account, verification of identity and documents is required. Most of the time, this verification process takes up to 2-3 days.

However, a user can easily deposit, trade and withdraw cryptocurrency.

### OKEx Verification
OKEx was founded in 2014, and it is one of the largest digital currency exchanges by trading volume. It serves millions of users in over 100 countries and operates out of Hong Kong. At OKEx, the identity verification process contains a few rules and procedures that facilitate a secure trading environment for our users, who must perform identity verification for the following activities:

**Buy currencies on OKEx with fiat currencies, for which users may need to complete identity verification**

Make daily crypto withdrawals of more than 10 BTC
OKEx does not require identity verification for users to deposit or trade crypto on OKEx. For individuals, there are several levels of identity verification:

**Level 1:** At level one, users must enter their nationality, name and document identification number
**Level 2:** In level two, users are required to verify themselves with photo ID, and they must also complete face verification.
**Level 3:** After completing the first two levels, users should read the disclaimer on OKEx's mobile app or webpage to complete the third level of identity verification.

## Why do I need to verify my identity?
We ask you to provide your ID so that we can ensure that all of our customers are legitimate and that we are not providing services to criminals. Everything is done in accordance with international regulatory requirements such as the 5th AML Directive which we as a company have no choice but to follow.

## Benefits of CoinGate Merchant Verification
**Benefits of verifying yourself on the CoinGate trading platform**
Otherwise, we could not provide our services because it would put our business and our customers at risk. In other words, there is no way around it if you want to access all payment methods and features like crypto-fiat payments to bank account.

**There are three key things we need to know before providing the service:**

* Who is this person or company that wants to use the service;
* Where the money comes from (if you plan to exceed 15,000 euros per year);
### What is the purpose of using the service?
What happens with the sensitive data provided?
All documents we request are encrypted and protected in accordance with General Data Protection Regulation (GDPR) guidelines, and will only be used to identify the customer and substantiate the intended activities.

Failing to protect our customers' data would result in our company facing extreme fines of up to €20 million, or 4% of total global annual revenue, as well as loss of reputation and even customer distrust. And we don't want that!

### What documents do you need?
For individual merchants, it is sufficient to provide a photo and a valid ID (preferably an international passport or ID card). For our security and your convenience, all of our customers go through live identity verification using Onfido.

**According to local Lithuanian laws, here is the information that must be on the document for us to consider it a valid ID:**

* simplified KYC requirements
* Name and nickname;
* Photo;
* Nationality or citizenship;
* date of birth or personal code;
* Signature.
* Which countries do you support?
* You can find a list of supported countries here.

However, it should be noted that the list is constantly changing. It depends on the local laws of each country, the level of risk of fraud, terrorism or money laundering, and other important reasons.

## How do I verify my identity?
* First, log into your CoinGate account, then switch to the “Verification” tab in the “Account” section, or select the “Submit Verification” option from the main dashboard.
* You will see a screen with the necessary information. Please take a moment to read it. You will also notice the "Start Verification" button below. Click on it and the verification process will begin.

### Step 1: Fill in personal information
The first step - provide your full legal name, date of birth and gender, exactly as it appears on the ID that we will ask you to provide later.

**Important:** The information must match the information on the ID!

* Next, fill in the details of your ID that you intend to verify yourself with.
* If you have an identity card, write down your personal code, the document number and select the expiry date of the document.
* If you don't have a personal code, select the option "I don't have a personal code", then indicate the document number and its expiry date. This is more common for those who only have an international passport.
* When done, continue with your residential address, citizenship (i.e. the country that issued your ID card), nationality (you can select a few), and email address .
* Finally, specify if you plan to carry out operations of more than 15,000 euros per year. It determines whether we will need to ask you for more documentation proving your source of funds.

#### Step #2: Specify the source of funds
If you do not plan to exceed 15,000 euros per year, we will not ask you for additional supporting documents. However, you must select whether you are currently employed, self-employed, student, retired or otherwise.

If you are an employee, we will ask you to specify the name of the company, your position and a legal address of the company. If you are self-employed, please specify the sector in which you work. If you select the “other” option, describe what you do for a living.